At the end of every year or other accounting period, accounts dealing with inventory require some adjustments. The purpose of making these adjustments is to update account balances so that they ...

A company's inventory consists of all its raw materials, works in process (goods that are partially completed), completed goods, and merchandise that has been purchased and is being held for sale, ...

Investopedia contributors come from a range of backgrounds, and over 25 years there have been thousands of expert writers and editors who have contributed. Kittikorn Nimitpara / Getty Images In ...